In August 2009 Her Majesty’s Revenue and Customs (HMRC) and the government of Liechtenstein reached an historic agreement. The agreement will result in Liechtenstein based financial institutions having to obtain confirmed that assets held by UK Resident persons are tax compliant.
As part of the agreement, HMRC have announced the Liechtenstein Disclosure Facility (LDF), which will enable
any persons with unreported liabilities connected with assets held in Liechtenstein, to settle with HMRC on very favourable terms.
